Home Campus Starting your own business enterprise

Starting your own business enterprise

Photo by Brad Sant -- Chad Craig, a freshman studying economics, started Ice Cloud in Rexburg.
Photo by Brad Sant — Chad Craig, a freshman studying economics, started Ice Cloud in Rexburg.

Unless you are a kid genius and graduated college at the age of 14, chances are you need to find a way to make money or maintain a living.
You can get loans, and maybe your parents will help you out some, but wouldn’t you prefer to be independent?
BYU-Idaho students have a unique track system. Because BYU-I is broken into three different semesters, sometimes it can be challenging for students to find employment during their off-track semesters.
For some BYU-I students, the solution to finding a job is to found their own business.
Essentially, entrepreneurship is quite common among students as a means of making money for school. Others start their own businesses in order to gain experience.
One of the first steps to entrepreneurship is to come with an idea for the business.
Kyle Rawson, founder of Syphon Sound and a BYU-I alumnus, came with his idea while working another job.
Rawson, originally from Wichita, Kan., said he was once trying to discover what he wanted to do when an acquaintance approached and introduced him to new technology.
“It wasn’t so much an invention as it was an application of an existing technology,” Rawson said.
Rawson said that when he first heard of this technology, the world’s thinnest and most flexible speakers, he thought of how he could market them as a business.
“That was my initial thought, but then again, I was a student. There was no way they would trust me with this new technology. So I worked with [my acquaintance] and his firm and other projects they were working on with the new technology,” Rawson said.
Like other entrepreneurs, Rawson created a business plan in order to gain credibility. He even entered it into the BYU-I Business Plan Competition and won.
Rawson eventually founded his company, Syphon Sound, in 2011 and recommended that future entrepreneurs utilize the help of new forms of media, websites and technology such as Kickstarter, social media tools and Ipads to start their businesses and run them smoothly.
“Kickstarter is a way to allow your product to potentially be recognized to all of your interested customers. The Kickstarter campaign is where the main focus is right now,” Rawson said.
While technology is helpful in spreading the word about a new business, entrepreneurs need to be able to spread the word in other ways.
Michael Decker, a sophomore studying psychology, is the founder and owner of The Decker Gro Company, a consulting firm.
Decker has to manage and maintain the reputation of his clients and consult on products, but in order to do that he needed clients to begin with.
“I started by contracting out my own abilities as a consultant,” Decker said. “After a few clients, I developed a system that would allow companies to outsource their PR at a low cost. Once I had consistent revenue, I could use that to keep expanding the business.”
Decker recommended that potential entrepreneurs start networking now in order to build a good clientele after the business has been established.
“To all the students who want to make a difference in the workplace, start now in networking in your preferred careers. Build your resume. Gaining experience is more valuable now than money,” Decker said.
If entrepreneurship sounds like something you would enjoy, you may consider starting now.

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